The dollar rose to 16-month highs Monday—and thanks to the Federal Reserve, it could go even higher.
U.S. Dollar Index,
a measure of the greenback against a basket of six peers, rose 0.1% Monday to more than 95.20. The dollar has surged around 1.2% over the last five days, 2.8% over the last month, and 5.9% across the whole year.
The dollar remains at its highest level since July 2020.
Analysts see it as likely that the Fed…